# Horse Loan – Where to Get a Financial Loan Or a Horse to Borrow

Before the advent of electronic calculators and personal computers, the lack of mathematical skills put some consumers at a disadvantage when trying to parse the meaning of down payment percentages, interest rates and installment loans. Whether for real estate or autos, understanding the numbers was a distinct advantage for both sides in a transaction. Now, with the help of a loan calculator – on a website, in an electronic device, as a set of numerical tables on paper – even the most arithmetically challenged can “crunch the numbers.”

Perhaps the most common loan calculator on the Internet is the kind used for real estate transactions. Click through online property listings and you will note, usually at the bottom of the page, an area devoted to loan calculation. You can experiment with various sizes of down payments, enter whatever interest rate you want and get a mortgage payment for any length of loan. It could hardly be easier.

**Cars, too**

The real estate version is not the only kind of loan calculator, of course. There are loan calculators that will help with simple auto loans as well as the most complicated corporate financing, although these would be found in quite different locations. In addition, companies that are in the financial services industry will have their own, proprietary calculators, and in various forms. installment loans

A loan calculator can be a one-step or a multi-step procedure, depending on how involved the transaction is. Most consumers will not need the elaborate sorts of calculations that businesses need, such as Return On Investment (ROI) or depreciation schedules, and Fortune 500 firms are not likely to use consumer-level online calculators, at any rate. For the most part, though, readers of this article will be well served by the assistance they will get with a simple Google search for “loan calculator.”

**Beyond the numbers**

Of course, a loan calculator only yields a number, not an approach. That is, once you have calculated how much of a mortgage payment you will have after a down payment of *x* at an interest rate of *y* for *z* number of years, there is still a decision to make. Can you afford the payment? There isn’t a loan calculator in the world that can make that sort of qualitative assessment for you, but there are budget programs that can help.

The best approach is to use a loan calculator in tandem with a budget, whether the budget is done with QuickBooks, on paper or even in your head (if you have a head for numbers, that is). For consumers, no single loan or specific account exists in a vacuum. Rather, there is an intimate and quantifiable relationship between and among income, expenses, assets, liabilities, interest rates, monthly payments and so on.

**The big picture**

A loan calculator is a tool to figure out the term, costs and monthly payments on a certain loan, based on a number of variables. The various results of the loan formula, which change based on your treatment of the variables, must then be considered in light of your budget as a whole. It is all very well to work out a $700 mortgage based on a $40,000 down payment, but you are getting a little ahead of yourself if you don’t have the $40,000 yet.